HT Media returns to profit in Q1 as print and radio drive recovery

MUMBAI: After turning a few difficult pages, HT Media has found a happier headline. The media house opened FY27 with a return to profit, proving that sometimes the best comeback story is the one printed in black and white.

HT Media swung back to profitability in the quarter ended 30 June 2026, reporting a consolidated net profit of Rs 43.51 crore, compared with a loss of Rs 11.37 crore in the year-ago period and a loss of Rs 9.66 crore in the preceding quarter. The turnaround came on the back of stronger print and radio businesses, even as the company continued to absorb losses from its discontinued OTTplay business.

Consolidated revenue from operations rose 11.1 per cent year-on-year to Rs 437.30 crore from Rs 393.76 crore, while total income increased nearly 15 per cent to Rs 496.96 crore from Rs 433.06 crore. Total expenses remained largely stable at Rs 441.54 crore, allowing the company to post a profit before tax of Rs 56.60 crore, compared with a loss before tax of Rs 10.12 crore a year earlier.

Profit from continuing operations stood at Rs 47.97 crore, a sharp improvement from Rs 4.29 crore in the corresponding quarter last year. However, discontinued operations, largely related to OTTplay, posted a post-tax loss of Rs 4.46 crore, narrowing from Rs 15.66 crore a year ago. Overall, total comprehensive income came in at Rs 48.42 crore, against a loss of Rs 12.15 crore in the year-ago quarter.

The company’s core printing and publishing business remained its biggest revenue engine, contributing Rs 376.11 crore, followed by radio broadcasting and entertainment at Rs 31.84 crore and the digital segment at Rs 27.39 crore. Printing and publishing also generated segment profit of Rs 36.50 crore, while radio and digital reported losses of Rs 8.02 crore and Rs 3.39 crore, respectively.

During the quarter, HT Media reported an exceptional gain of Rs 1.18 crore arising from the surrender of specific radio licences filed with the Ministry of Information and Broadcasting, including gains from lease termination after accounting for impairment and contractual obligations.

The company also infused Rs 3.50 crore into subsidiary Mosaic Media Ventures Private Limited, while its standalone business reported revenue of Rs 235.51 crore and a net loss of Rs 7.96 crore, reflecting continued pressure at the parent company level despite the group’s overall recovery.

HT Media said the financial impact of OTTplay, which was discontinued from 31 March 2026, continued to be reflected separately under discontinued operations. The business generated income of Rs 7.07 crore during the quarter but posted a pre-tax loss of Rs 5.55 crore, significantly lower than the Rs 18.05 crore loss recorded a year earlier.

Separately, the company noted that its board had approved a preferential issue of up to 3.87 crore warrants at Rs 24.57 apiece in July, a move that could strengthen its capital base after receiving shareholder and regulatory approvals.